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to demand, you are contributing more to this problem or as much to this problem of the big deficit. >> government cannot create wealth. come on. we have come out three years where government by spending massive amounts it could create jobs and create wealth and you've seen that. >> history is full of examples. reagan saw tax cuts and growing economy. clinton years saw tax hikes and a growing economy. but don't confuse with causation it's cumulation of trillions of goods, services and money. no one person, no president and no economist can predict with certainty where a tax policy leads. wrong predictions are a foundation of economic study. >> the size of economics is looking what the unintended consequences. >> one unintended consequence is tax on luxury goods in the early 1990s. the law imposed extra taxes on jewelry of $10,000 of cars of over $30,000 and boats of over $100,000. it was seen as a way of raising revenue by targeting people that could most afford it, the wealthy. the pleasure boat industry laid off 19,000 blue collar workers. so economists offer answers but few guara
answered. when we come back, the race against the cure in a big blow to breast cancer patients and f.d.a. panel votes to revoke approval of a popular treatment. we'll tell you what's behind the decision next. >> and my doctor and i discussed privately. i want you to see that i'm a real person and nationde insurance. what's up ? what's vanishing deducti all about ? guys, it's demonstration time. let's blow carl's mind. okay, let's say i'm your insurance deductible. every year you don't have an accident, $100 vanishes. the next year, another $100. where am i going, carl ? thnext year... th was weird. but awesome ! ♪ nationwide is on your side ♪ would you go next if you had a hoveround power chair? the statue of liberty? the grand canyon? it'sll possible with a hoveround. tom: hi i'm tom kruse, inventor and founder of hoveround. when we say you're free to see the world, we mean it. call today and get a free hoveround information kit that includes a video and full color brochure. dennis celorie: "it's by far the best chair i've ever owned." terri: "last year, 9 out of 10 people got t
't start either one of them. we don't need to go in to the wars. i haven't been a big fan of iraq war. that war was cost us almost $2 trillion. the afghanistan and iraq war is winding down. office management of budget office has looked at this and said if you take a trillion dollars and lower the debt and allow us to take additional $200 billion in interest savings, that is what we have in our bill. it's all been done by non-partisan congressional budget office. i can't imagine the fact they have voted for it, 230 republicans voted for that in the budget. 40 republicans voted for it. why is it something suddenly they don't want? (question is inaudible). >> your math is terrific. we got 60. the issue has been for a week or so a trigger. yes, the joint committee doesn't come up with a result. what should happen. we've been willing to say that we're happy if we don't arrive at the budget goals with the joint committee that certain things should happen. we've been willing to say that there could be a sequestration as long as it included revenues. it's unfair to make it a spending bill whe
Search Results 0 to 3 of about 4 (some duplicates have been removed)